Common use of Financial Covenant Calculations Clause in Contracts

Financial Covenant Calculations. Each set of financial statements of the Parent required to be delivered to the Administrative Agent pursuant to Section 5.04(a) or (b) shall be accompanied by a Compliance Certificate setting forth, among other things: (a) the information (including detailed calculations) required in order to establish whether the Obligor was in compliance with the financial covenant set forth in Section 6.14 during the Fiscal Quarter or Fiscal Year covered by the statements then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation of the amount, ratio or percentage then in existence); (b) a certification of the Total Adjusted Net Leverage Ratio, Super Senior Leverage Ratio and Interest Coverage Ratio for the four consecutive Fiscal Quarters ending with the Fiscal Quarter or the last Fiscal Quarter of the Fiscal Year, as the case may be, to which such financial statements relate; (c) certification of the Available Amount as of the last day of such Fiscal Quarter or Fiscal Year, including details of any Available Amount Expenditures during such Fiscal Quarter or Fiscal Year; and (d) a statement that the applicable Responsible Officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Parent and the Subsidiaries from the beginning of the Fiscal Quarter or Fiscal Year covered by the statements then being furnished to the date of such Compliance Certificate and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists, specifying the nature and period of existence thereof and what action the Parent or the Obligor shall have taken or proposes to take with respect thereto.

Financial Covenant Calculations. Each set of financial statements of the Parent required to be delivered to the Administrative Agent pursuant to Section 5.04(a) (Financial Statements and Other Information) or (b) shall be accompanied by a Compliance Certificate setting forth, among other things: (a) the information (including detailed calculations) required in order to establish whether the Obligor Borrower was in compliance with the financial covenant Financial Covenants, to the extent the Financial Covenants are being tested, set forth in Section 6.14 6.12 (Financial Covenants) during the Fiscal Quarter or Fiscal Year covered by the statements then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such SectionsSection, and the calculation of the amount, ratio or percentage then in existence); (b) with respect to Compliance Certificates delivered in connection with Section 5.04(a) and (b) (Financial Statements and Other Information), (i) to the extent the Financial Covenants are being tested, a certification calculation of the Debt Service Coverage Ratio as of Fiscal Quarter or the last Fiscal Quarter of the Fiscal Year to which such financial statements relate, (ii) commencing with the Fiscal Year ending on December 31, 2022, a calculation of the Excess Cash Flow for the Fiscal Year to which such financial statements relate and (iii) with respect to Compliance Certificates delivered in connection with Section 5.04(b) (Financial Statements and Other Information), and a calculation of the Total Adjusted Net Leverage Ratio, Super Senior Leverage Ratio and Interest Coverage Ratio for the four consecutive Fiscal Quarters ending with the Fiscal Quarter or the last Fiscal Quarter of the Fiscal Year, as the case may be, Year to which such financial statements relate; (c) certification of the Available Amount as of the last day of such Fiscal Quarter or Fiscal Year, including details of any Available Amount Expenditures during such Fiscal Quarter or Fiscal Year; and (dc) a statement that the applicable Responsible Authorized Officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Parent Borrower and the its Subsidiaries from the beginning of the Fiscal Quarter or Fiscal Year covered by the statements then being furnished to the date of such Compliance Certificate and that such review shall not have disclosed reflected the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists, specifying in reasonable detail the nature and period of existence thereof and what action the Parent or the Obligor applicable Loan Party shall have taken or proposes to take with respect thereto.

Financial Covenant Calculations. Each set of financial statements of the Parent required to be delivered to the Administrative Agent pursuant to Section 5.04(a) or (b) shall be accompanied by a Compliance Certificate setting forth, among other things: (a) the information (including detailed calculations) required in order to establish whether the Obligor Borrower was in compliance with the financial covenant Financial Covenants, to the extent the Financial Covenants are being tested, set forth in Section 6.14 6.12 during the Fiscal Quarter or Fiscal Year covered by the statements then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such SectionsSection, and the calculation of the amount, ratio or percentage then in existence); (b) with respect to Compliance Certificates delivered in connection with Section 5.04(a) and (b), (i) to the extent the Financial Covenants are being tested, a certification calculation of the Debt Service Coverage Ratio as of Fiscal Quarter or the last Fiscal Quarter of the Fiscal Year to which such financial statements relate, (ii) commencing with the Fiscal Year ending on December 31, 2022, a calculation of the Excess Cash Flow for the Fiscal Year to which such financial statements relate and (iii) with respect to Compliance Certificates delivered in connection with Section 5.04(b), and a calculation of the Total Adjusted Net Leverage Ratio, Super Senior Leverage Ratio and Interest Coverage Ratio for the four consecutive Fiscal Quarters ending with the Fiscal Quarter or the last Fiscal Quarter of the Fiscal Year, as the case may be, Year to which such financial statements relate; (c) certification of the Available Amount as of the last day of such Fiscal Quarter or Fiscal Year, including details of any Available Amount Expenditures during such Fiscal Quarter or Fiscal Year; and (dc) a statement that the applicable Responsible Authorized Officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Parent Borrower and the its Subsidiaries from the beginning of the Fiscal Quarter or Fiscal Year covered by the statements then being furnished to the date of such Compliance Certificate and that such review shall not have disclosed reflected the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists, specifying in reasonable detail the nature and period of existence thereof and what action the Parent or the Obligor applicable Loan Party shall have taken or proposes to take with respect thereto.

Financial Covenant Calculations. Each set of financial statements of the Parent required to be delivered to the Administrative Agent pursuant to Section 5.04(a) or (b) shall be accompanied by a Compliance Certificate setting forth, among other things: (a) the information (including detailed calculations) required in order to establish whether the Obligor Borrower was in compliance with the financial covenant set forth in Section 6.14 during the Fiscal Quarter or Fiscal Year covered by the statements then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation of the amount, ratio or percentage then in existence); (b) a certification of the Total Adjusted Net Leverage Ratio, Super Senior Leverage Ratio and Interest Coverage Ratio for the four consecutive Fiscal Quarters ending with the Fiscal Quarter or the last Fiscal Quarter of the Fiscal Year, as the case may be, to which such financial statements relate; (c) certification of the Available Amount as of the last day of such Fiscal Quarter or Fiscal Year, including details of any Available Amount Expenditures during such Fiscal Quarter or Fiscal Year; and (d) a statement that the applicable Responsible Officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Parent and the Subsidiaries from the beginning of the Fiscal Quarter or Fiscal Year covered by the statements then being furnished to the date of such Compliance Certificate and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists, specifying the nature and period of existence thereof and what action the Parent or the Obligor Borrower shall have taken or proposes to take with respect thereto.